It is a bloody shame that EMH has to release its DFS into this market. The conditions for the DFS are terrible.
Firstly, the obvious, ASX has just entered into the correction territory this week, and US 'Fear Gauge' is pointing at 25 which is 'Extreme Fear', this is about as terrible sentiment as it gets to release news into.
Secondly, Lithium-derived products pricing is in such contraction (-72% Li hydroxide from the peaks of 2022) that it makes the LOM Unit pricing a really difficult process as DRA may end up with LOM price above the current spot pricing or matching it (i.e. $22k current pricing is pretty close to what I estimated DRA to be using for the DFS).
Not really sure what to make of the above, if I had a 'fire sale' today the SP would plummet into .4xx range. I am not though, seeing this one to DFS release at least (if DFS does not arrive it will be a disaster).
EMH Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held
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